i would like to know too. but imho, logically, the owner should get back the car and apply for new insurance and dont have to return the money.friend of mine who lost his eg6 few mths ago has been contacted by the police yesterday, said that his car been recovered in one piece. The prob is, the insurance already paid him for the lost....so the question is issit possible for him to return the money and take back the car? any advise from those in insurance industry?
i would like to know too. but imho, logically, the owner should get back the car and apply for new insurance and dont have to return the money.
Agreed.. Happen to me last time, my car got stolen, insurance is Lonpac.Now...where is the logic to that?:hmmmm:
The fact is, once the payment has been made to the car owner by the insurance company, the lost car eventhough found is considered a property of the Insurance company. You can ask you friend coz when he received his insurance money, he has already sign the ownership transfer forms with the insurance company rendering the car the property of the insurance company. Normally the car will be reauctioned or sold according the policy of the insurance company. Your friend could actually talk to the insurance company on purchasing the car back or something. Im sure they are open up for negotiations.